Women in Healthcare: Jill Arena on Elevating Financial Literacy Among Physicians

Episode Overview: In this episode, MGMA consultant Adrienne Lloyd sits down with Jill Arena, a nationally recognized expert in medical practice operations, to discuss the growing need for financial fluency among physicians. Jill shares insights from her work with the Physician Leadership Project and offers practical strategies for improving financial transparency, navigating payer mix, and creating a safe learning environment for clinical leaders.Key Topics Covered:02:19 – Jill explains the financial literacy gap for physicians and how the Physician Leadership Project helps close it.05:44 – Medical training’s “knowledge shame” culture and why physicians struggle to ask financial questions.07:23 – Embezzlement is widespread: 83% of practices are affected. Jill discusses the urgent need for transparency and oversight.10:09 – Reframing capital requests: Jill shares how she guides physicians through financial trade-offs instead of just saying “no.”14:20 – “All patients are created equal, but all payers are not”: A clear framework for understanding RVUs, payer mix, and financial viability.20:43 – Creating safe spaces for financial education: brown bags, pre-meeting Q&A, and planting “starter questions.”26:49 – Using benchmarking data to drive productivity and encourage top-of-license work for both physicians and staff.28:03 – Harnessing physician competitiveness with transparent performance data and peer-led learning.Resources:Adrienne Palmer LloydConnect with Adrienne on LinkedInTo see other episodes of the Women in Healthcare Podcast, watch the video versions on YouTube, or apply to be on an upcoming episode, please visit:Women in Healthcare PodcastAdrienne’s Services & More Connect with Jill on LinkedIn Additional MGMA ResourcesMGMA EventsMGMA ConsultingMGMA DataDiveMGMA StatMGMA PodcastsPhysician Business Training